Funds Managed by Blue Owl Capital Complete $91.7M Sale-Leaseback Transaction with Trustmark

Blue Owl deploys capital into 34 net lease bank branches with a 15-year initial term and investment grade tenant Trustmark.

Rhea-AI Summary

Blue Owl Capital (OWL) completed a $91.7 million sale-leaseback with Trustmark involving 34 bank branch properties.

Funds managed by Blue Owl's Real Assets platform acquired the branches, which are located across Mississippi, Florida, Tennessee, Alabama, and Texas, expanding its portfolio of net lease properties. Concurrently, Trustmark entered into long-term, triple net leases on all 34 sites, providing contractual rental income backed by an investment grade counterparty rated BBB+ by S&P. Each lease has an initial 15-year term with three consecutive five-year renewal options.

Positive

• $91.7 million bank branch sale-leaseback completed with Trustmark
• 34 net lease bank branches added across five U.S. states
• Triple net leases with initial 15-year term plus three 5-year options
• Tenant Trustmark holds S&P investment grade rating of BBB+
• Blue Owl Real Assets scales portfolio within bank branch sale-leaseback niche

Negative

• None.

Market Context

OWL was down 1.17% versus its prior close before publication; the completed sale-leaseback was discl...

Analysis

OWL was down 1.17% versus its prior close before publication; the completed sale-leaseback was disclosed against an already weaker pre-headline price position, while peer scanner data showed divergent movements.

Key Figures

Transaction Value: $91.7M Properties Acquired: 34 bank branch properties Initial Lease Term: 15 years +2 more

Transaction Value

$91.7M

Completed sale-leaseback transaction

Properties Acquired

34 bank branch properties

Trustmark portfolio

Initial Lease Term

15 years

Long-term triple net leases

Renewal Options

3 consecutive five-year renewal options

Per lease

Counterparty Credit Rating

BBB+

Trustmark rating from S&P

Key Terms

sale-leaseback, triple net leases, investment grade, net interest margin

4 terms

sale-leaseback financial

"Funds Managed by Blue Owl Capital Complete $91.7M Sale-Leaseback Transaction"

A sale-leaseback is a deal where an owner sells an asset—commonly real estate or equipment—to another party and immediately rents it back so they can keep using it. For investors, it matters because the seller converts a fixed asset into cash without disrupting operations, which can boost liquidity or pay down debt but also creates ongoing lease payments and long-term obligations that affect cash flow and the balance sheet.

triple net leases financial

"Trustmark entered into long-term, triple net leases for all 34 properties"

A triple net lease is a rental agreement where the tenant pays the base rent plus three major property expenses: property taxes, building insurance, and maintenance costs. For investors, this arrangement makes rental income more predictable and lowers the landlord’s day‑to‑day expenses and risk—similar to leasing out a house where the renter also handles the utility bills, yard work and repairs—so it affects cash flow stability and valuation of income‑producing real estate.

investment grade financial

"Trustmark carries an investment grade credit rating of BBB+ from S&P"

A credit rating label assigned to bonds or borrowers that signals relatively low risk of default; think of it as a strong health check for a company's or government's ability to repay debt. It matters to investors because investment-grade status typically means lower interest costs for the borrower, greater eligibility for conservative funds and pension portfolios, and generally more stable returns compared with higher-risk, non-investment-grade debt.

View in glossary

net interest margin financial

"we have strengthened our net interest margin"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Acquiring Portfolio of 34 Bank Branches from Investment Grade Counterparty

NEW YORK, Sept. 17, 2026 /PRNewswire/ -- Blue Owl Capital Inc. (NYSE: OWL) ("Blue Owl"), a leading alternative asset manager, today announced that funds managed by its Real Assets platform have completed the acquisition of 34 bank branch properties owned by Trustmark Corporation ("Trustmark").

The transaction expands Blue Owl Real Assets' portfolio of net lease properties with a diversified collection of bank branches across Mississippi, Florida, Tennessee, Alabama, and Texas. Concurrent with the acquisition, Trustmark entered into long-term, triple net leases for all 34 properties, providing Blue Owl with contractual rental income backed by an established financial institution.

This transaction builds on Blue Owl's deep expertise executing bank branch sale-leasebacks with quality counterparties. Trustmark carries an investment grade credit rating of BBB+ from S&P and benefits from a stable deposit base, consistent core profitability, and sound asset quality.

"Banks today are looking at their balance sheets through a much more strategic lens, and transactions like this demonstrate how institutions can unlock value from their real estate while simultaneously optimizing other parts of the balance sheet," said Marc Zahr, Co-President of Blue Owl and Global Head of Real Assets. "We believe that combination can be particularly compelling for banks evaluating how to put capital to work more efficiently in today's rate environment."

"One of Trustmark's primary goals, always, is to maximize the efficiency of our capital. Working with Blue Owl has allowed us to transform static brick-and-mortar equity into dynamic balance sheet strength," commented Duane Dewey, Trustmark's Chief Executive Officer. "By strategically matching the capital gains from these properties against our portfolio restructuring, we have strengthened our net interest margin and better positioned the company's balance sheet for the future, all with no disruption to our localized customer experience."

Each lease has an initial term of 15 years, with three consecutive five-year renewal options.

About Blue Owl Capital Inc.

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $319 billion in assets under management as of June 30, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,380 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: https://www.linkedin.com/company/blue-owl-capital.

About Trustmark

Trustmark Corporation is a financial services company providing banking and financial solutions through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Visit trustmark.com for more information.

Forward-Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date made. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owl's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of strategic acquisitions; costs related to acquisitions; the inability to maintain the listing of Blue Owl's shares on the New York Stock Exchange; Blue Owl's ability to manage growth; Blue Owl's ability to execute its business plan and meet its projections; potential litigation involving Blue Owl; changes in applicable laws or regulations; and the possibility that Blue Owl may be adversely affected by other economic, business, geo-political and competitive factors.

Blue Owl Investor Contact
Ann Dai
Head of Investor Relations
blueowlir@blueowl.com

Blue Owl Media Contact
media@blueowl.com 

Trustmark Contact
Melanie Morgan
Director of Corporate
Communications & Marketing
601.208.2979
mmorgan@trustmark.com

View original content:https://www.prnewswire.com/news-releases/funds-managed-by-blue-owl-capital-complete-91-7m-sale-leaseback-transaction-with-trustmark-302882307.html

SOURCE Blue Owl Capital

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What properties are included in Blue Owl's transaction with Trustmark?

The transaction covers 34 bank branch properties previously owned by Trustmark. These branches are located across Mississippi, Florida, Tennessee, Alabama, and Texas and will remain operated by Trustmark under new lease agreements.

What are the lease terms Trustmark agreed to for the 34 branches?

Trustmark entered into long-term, triple net leases for all 34 properties. Each lease has an initial term of 15 years, with three consecutive five-year renewal options, providing potential occupancy of up to 30 years.

How does Trustmark describe the impact of this sale-leaseback on its balance sheet?

Trustmark's CEO said working with Blue Owl allowed the bank to transform "static brick-and-mortar equity into dynamic balance sheet strength." The company stated that by matching capital gains from the properties against portfolio restructuring, it has strengthened its net interest margin and positioned its balance sheet for the future without disrupting its localized customer experience.

What is Trustmark's credit profile in this transaction?

Trustmark carries an investment grade credit rating of BBB+ from S&P. The release highlights its stable deposit base, consistent core profitability, and sound asset quality as features of its credit profile.

How large is Blue Owl's overall asset management platform?

Blue Owl reports $319 billion in assets under management as of June 30, 2026. It invests across three multi-strategy platforms: Credit, Real Assets, and GP Strategic Capital, supported by over 1,380 professionals globally.